Avalon Correctional Services To Present Next Week At 21st Annual Westergaard Waldorf Conference.NEW YORK--(BUSINESS WIRE)--Oct. 30, 1998-- Joins 16 Prospective High Growth Companies in Co-Hosting 250 Investment Professionals At All Day Institutional Meeting Oklahoma City based Avalon Correctional Services (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CITY) will be one of 16 prospective high growth microcap companies co- hosting the 21st Annual Westergaard Microcap Conference next week, November 5th at the Waldorf Astoria in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Positioned to grow through acquisition by consolidating the fragmented $4 billion nationwide community corrections industry (a.k.a. half-way houses), Avalon is the only publicly held company focused primarily on this sector of the privatized corrections industry. In welcoming Avalon to the Conference, WBN Publisher John Westergaard stated: "In concentrating primarily on the southwest U.S., Avalon's potential acquisition universe is about $320 million of the industry's $4 billion in annual revenue. This provides substantial room for CITY with a run rate now of circa $8 million. The Company, which boasts a solid 12-year operating record, staffed up during 1997 with new executive hires and raised $15mm for acquisitions. "Since co-hosting the Sept. 17th Westergaard-Mallon Security2001 Conference, Avalon has deployed most of the $15 million and is moving ahead on another $20 million financing scheduled for closing by mid-November to support additional facility expansion. It looks right on for about $8.5 million in revenues this year. Avalon's chief competitors in the community corrections industry are Corrections Corporation of America Corrections Corporation of America (NYSE: CXW) (CCA) is a company that manages public prisons and other facilities[1], and has concessions for many others. The company had annual revenues in 2004 of $1.15 billion USD. (NYSE NYSE See: New York Stock Exchange :CCA); Wackenhut Corrections (NYSE:WHC); Cornell Corrections (AMEX AMEX See: American Stock Exchange :CRN); Correctional Services Corporation (NASDAQ:CSCQ) and Youth Services International (NASDAQ:YSII)." Avalon Founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Donald Smith will be presenting the CITY story on November 5th. Registration for the conference is by invitation to investment professionals. Request details by fax to 212-947-6643. Westergaard Broadcasting Network.com licenses and manages a network of Internet cyberstations, which provide comprehensive analytical coverage of micro-midcap companies to online investors. WBN.com is a service of Westergaard Online Systems Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :WSYS). Other services are Westergaard Year 2000, a leading provider of information and analysis on the Y2K Millennium Bug, and Westergaard Year 2000 Speaker's Bureau. |
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